The downside of investing in quantum computing pure plays is that there is no backup plan. If another competitor and its technology surpass Rigetti's, the stock becomes obsolete, and every share is worthless, ultimately sending the stock to $0. That's a grim outlook, but it's entirely within the realm of possibility.

The California-based firm said it has achieved a major milestone and teased more news to come. Here’s what to know. Shares in the quantum computing firm Rigetti Computing are experiencing what you might call quantum leap.

Key Points The quantum computing company recently announced a big technological achievement.In a press release, Rigetti said its 36-qubit system had achieved a 99.5% median 2-qubit gate fidelity.10 stocks we like better than Rigetti Computing › Since the close of trading last week,